\begin{tabular}{lllllllllllll} \hline \hline
                             & \multicolumn{2}{l}{\textbf{Observed}} & \multicolumn{2}{l}{\textbf{Drop-out}} & \multicolumn{2}{l}{\textbf{Difference}} & \multicolumn{2}{l}{\textbf{Treatment}} & \multicolumn{2}{l}{\textbf{Control}} & \multicolumn{2}{l}{\textbf{Difference}} \\
                             & \multicolumn{2}{l}{(1)}       & \multicolumn{2}{l}{(2)}     & \multicolumn{2}{l}{\textbf{Mean (1)-(2)}}  & \multicolumn{2}{l}{(3)}     & \multicolumn{2}{l}{(4)}             & \multicolumn{2}{l}{\textbf{Mean (3)-(4)}}  \\
                             & \textbf{N}            & \textbf{Mean}           & \textbf{N}           & \textbf{Mean}          & \textbf{Difference}        & \textbf{p-value}       & \textbf{N}           & \textbf{Mean}          & \textbf{N}               & \textbf{Mean}              & \textbf{Difference}        & \textbf{p-value}       \\ \hline \\
\textbf{Outcome variables}   &                &                 &              &                &                    &                &              &                &                    &                    &                    &                \\ 
Minimum wage (share) &         327&           0.786&         74&           0.790&          -0.004&        0.936&         189&           0.788&         138&           0.784&           0.003&        0.932\\
Written contract (share) &         335&           0.423&         77&           0.496&          -0.073&        0.214&         196&           0.426&         139&           0.419&           0.007&        0.891\\
Social security (share) &         359&           0.394&         88&           0.437&          -0.044&        0.343&         212&           0.405&         147&           0.377&           0.027&        0.506\\
Formality Index &         359&           0.521&         88&           0.549&          -0.029&        0.465&         212&           0.525&         147&           0.514&           0.011&        0.754\\
Revenue (18–20, TH.USD) &         357&         126.818&         85&          94.185&          32.633&        0.165&         212&         127.653&         145&         125.598&           2.055&        0.926\\
An. profit (18–20, TH.USD) &         352&           5.349&         78&           6.888&          -1.539&        0.589&         209&           6.392&         143&           3.826&           2.566&        0.320\\
Labor prod. &         352&          21.209&         78&          22.262&          -1.053&        0.774&         207&          21.853&         145&          20.289&           1.565&        0.623\\
An. labor costs (18–20, TH.USD) &         357&          18.488&         72&          18.536&          -0.048&        0.987&         211&          19.666&         146&          16.787&           2.879&        0.250\\
\\ \hline \\
\textbf{Strata variables}    &                &                 &              &                &                    &                &              &                &                    &                    &                    &                \\
Abidjan &         360&           0.639&         88&           0.795&          -0.157&        0.005&         213&           0.662&         147&           0.605&           0.057&        0.274\\
Revenue (18–20, TH.USD) &         357&         126.818&         85&          94.185&          32.633&        0.165&         212&         127.653&         145&         125.598&           2.055&        0.926\\
Size: micro &         357&           0.608&         85&           0.576&           0.031&        0.596&         212&           0.608&         145&           0.607&           0.002&        0.976\\
Size: small &         357&           0.232&         85&           0.341&          -0.109&        0.038&         212&           0.236&         145&           0.228&           0.008&        0.856\\
Size: medium &         357&           0.160&         85&           0.082&           0.077&        0.069&         212&           0.156&         145&           0.166&          -0.010&        0.803\\
Staff (18-20) &         360&           6.791&         88&           6.387&           0.404&        0.735&         213&           7.002&         147&           6.487&           0.515&        0.656\\
1-3 staff &         360&           0.300&         88&           0.318&          -0.018&        0.740&         213&           0.305&         147&           0.293&           0.013&        0.798\\
4-6 staff &         360&           0.383&         88&           0.352&           0.031&        0.591&         213&           0.376&         147&           0.395&          -0.019&        0.717\\
More than 6 staff &         360&           0.317&         88&           0.330&          -0.013&        0.817&         213&           0.319&         147&           0.313&           0.006&        0.899\\
Share of female staff &         360&           0.305&         88&           0.340&          -0.035&        0.306&         213&           0.314&         147&           0.292&           0.022&        0.462\\
\\ \hline \\
\textbf{Firm characteristics} &                &                 &              &                &                    &                &              &                &                    &                    &                    &                \\ 
Act: Manufacturing \& Agriculture &         360&           0.228&         88&           0.159&           0.069&        0.160&         213&           0.202&         147&           0.265&          -0.063&        0.159\\
Act: Construction &         360&           0.183&         88&           0.159&           0.024&        0.596&         213&           0.178&         147&           0.190&          -0.012&        0.772\\
Act: Wholesale and Retail &         360&           0.153&         88&           0.193&          -0.040&        0.356&         213&           0.146&         147&           0.163&          -0.018&        0.647\\
Act: Other Services &         360&           0.436&         88&           0.489&          -0.053&        0.375&         213&           0.474&         147&           0.381&           0.093&        0.080\\
Firm age (years) &         359&           7.549&         88&           7.830&          -0.281&        0.728&         212&           7.448&         147&           7.694&          -0.246&        0.722\\
Capital stock (18–20, TH.USD) &         351&          56.370&         83&          67.342&         -10.972&        0.543&         209&          61.881&         142&          48.260&          13.620&        0.375\\
Registry of commerce &         360&           0.947&         88&           0.898&           0.049&        0.086&         213&           0.953&         147&           0.939&           0.014&        0.553\\
Male manager &         360&           0.847&         88&           0.682&           0.165&        0.000&         213&           0.859&         147&           0.830&           0.029&        0.450\\
Manager w/tertiary education &         358&           0.712&         85&           0.788&          -0.076&        0.158&         211&           0.687&         147&           0.748&          -0.061&        0.210\\
\hline
\end{tabular}
